Economic Indicators

June’s New-Vehicle Sales Pace (SAAR) Reached Highest Point in 2026

Vehicle sales remained healthy in June, with the seasonally adjusted annual rate (SAAR) reaching 16.5 million—the highest level of 2026. Sales volume increased 2.8% from May, though June’s SAAR was still 2.7% below year-ago levels.

According to Moody’s Analytics, consumer demand has remained resilient despite elevated gasoline prices and a softer labor market. However, affordability challenges, high interest rates, and moderating wage growth continue to constrain growth. At the same time, strong equity markets are supporting household wealth and helping sustain new vehicle purchases.

Detroit Metro’s Unemployment Rates Increased in June 2026

The Detroit-Warren-Dearborn Metropolitan Statistical Area’s (MSA) seasonally adjusted unemployment rate rose by one-tenth of a percentage point to 5.4% during June. Employment increased by 4,000 over the month, while unemployment edged up by 1,000, resulting in a labor force gain of 5,000 in June. The Detroit MSA unemployment rate rose by six-tenths of a percentage point over the year. The Detroit region’s labor force increased by 35,000 since June 2025.

Detroit MSA Job Growth Rebounds in First Half of 2026, But Remains Slightly Below Last Year

In June 2026, total nonfarm employment in the Detroit MSA reached 2.06 million jobs, up 16,600 jobs from May. Employment was 5,000 jobs lower than in June 2025 (-0.2%) and remained just below the recent high of 2.07 million jobs recorded in June 2025.

Job Postings Down in June 2026

In June 2026, total job postings in the Region reached 106,903, a 3% decrease from the previous month. Registered nurses remained the most in-demand occupation in the Detroit Region.

U.S. Economy Grows in Q1 2026

Real gross domestic product (GDP) increase at an annual rate of 2.1 percent in the first quarter of 2026 (January, February, and March), according to the third estimate released today by the U.S. Bureau of Economic Analysis. In the fourth quarter of 2025, real GDP increased 0.5 percent. The contributors to the increase in real GDP in the first quarter were increases in investment, exports, government spending, and consumer spending. Imports, which are a subtraction in the calculation of GDP, increased. Read the full BEA report.

The GDP is measured as the total market value of the goods and services produced within a specific geography during a given time period. Gross domestic product is a key indicator of the general health of the economy and its performance, with increases indicative of economic growth.

Inflation Slowed to 3.5% in June 2026 as Gas Prices Fell by 10% 

The consumer price index increased 3.5% in the 12 months ending in June, down from the 4.2% in May, which marked the highest pace in three years. Inflation cooled in June mostly due to gasoline prices falling. Prices fell 0.4%, driven largely by a 10% drop in gasoline prices.  Read the full report.

Consumer Sentiment Climbed to Highest Reading Since February

Consumer sentiment confirmed its early-month reading, landing almost 12% above June. Broad-based improvements were seen across all groups by income, education, wealth, age, and political party. Five-year expected business conditions reached a 12-month high, though it remains well under its historical average. Despite recent gains, sentiment is 11% below a year ago, reflecting a generally somber view of the economy amid five years of elevated inflation and persistent high prices. Consumers remain focused on pocketbook issues like purchasing power, while political or military developments remain more in the background.. Read the full report.

Michigan’s New Business Applications Remained Strong in Q2 2026

New business applications totaled 39,966 in Q2 2026, up 11.5% from the same quarter in 2025, signaling continued entrepreneurial activity.

Economic Activity in the Manufacturing Sector Expands for the Sixth Straight Month  

The U.S. manufacturing sector expanded in June for the sixth straight month following a 10-month period of contraction, registering 53.3%, a decrease of 0.7 percentage point compared to May. Five of the six largest manufacturing industries expanded in June, with Petroleum & Coal Products the exception.

ISM® states a reading above 50% shows that the manufacturing economy is generally expanding; below 50% indicates that it is generally contracting. The index is based on a monthly survey of supply chain managers and measures general direction of economic trends in manufacturing and other sectors.